Publisher 3Media in liquidation

The liquidator of 3Media Group says the company will trade on until all its assets are sold.

3Media, New Zealand's largest privately owned business-to-business publishing company, was placed in voluntary liquidation today.

Liquidator Gerry Rea Partners said the company has been for sale for three months but prospective buyers had difficulty raising funds.

"The move to voluntary liquidation means business as usual for the majority of 3Media employees until the sale of the portfolio of publications has been accomplished."

The assets will be sold individually or in clusters. In March, the company sold its dairy industry magazine NZ Dairy Exporter to Country-Wide Publications.

The company's titles include AdMedia, Onfilm, Apparel, In My Kitchen, New Zealand Management, NZ Marketing Magazine and FMCG, according to its website.

3Media was formed in 2007 through the merger of Review Publishing, Profile Publishing and Marketplace Press.

The company's directors are Reg Birchfield, Raymond Little and Peter Mitchell.

- NZPA